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Tender of NZ$150 mln 2033's received bids for NZ$612 mln; high coverage ratio but lowest ratio of successful to total bids so far; weighted average yield falls to 3.17% (previously 3.36%)

Bonds
Tender of NZ$150 mln 2033's received bids for NZ$612 mln; high coverage ratio but lowest ratio of successful to total bids so far; weighted average yield falls to 3.17% (previously 3.36%)

The New Zealand Debt Management Office has announced the results of NZ Govt Bond tender number 569 held on April 29, 2016.

Tender Date: Friday, April 29, 2016

Bids close: 2.00pm

Results: From 2.05pm

Settlement Date: Wednesday, May 4, 2016

  Apr 29 - #569 Mar 24 - #566 Feb 25 - #563
Series Offered 3.50% 14 Apr 2033 3.50% 14 Apr 2033 3.50% 14 Apr 2033
Total Amount Offered ($million) 150 100 100
Total Amount Allocated ($million) 150 100 100
Total Number of Bids Received 57 29 45
Total Amount of Bids Received ($million) 612 272 370
Total Number of Successful Bids 13 8 11
Highest Yield Accepted (%) 3.185 3.365 3.315
Lowest Yield Accepted (%) 3.150 3.345 3.305
Highest Yield Rejected (%) 3.220 3.440 3.400
Lowest Yield Rejected (%) 3.185 3.365 3.315
Weighted Average Accepted Yield (%) 3.1649 3.3602 3.3084
Weighted Average Rejected Yield (%) 3.2013 3.3781 3.3331
Amount Allotted at Highest Accepted Yield as Percentage of Amount Bid at that Yield* 8.1 56.7 21.8
Coverage ratio 4.08 2.72 3.70

*Individual allotments may vary due to rounding.

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